From Saint Tropez to Menton via Cannes, Nice, Eze, Beaulieu, Beausoleil, Saint Raphael or Les Issambres, the French Riviera attracts more than 4 million visitors each year. With its exceptional sunshine and idyllic setting, this destination also appeals to investors looking for a better quality of life. By becoming the owner of a new property on the French Riviera, you can be sure of investing in a lasting legacy.
Buying a new property on the French Riviera: a safe investment
The real estate market in the region is doing very well and statistics show that it is not about to change. Built in compliance with the RT 2012 standard, new properties are distinguished above all by their energy performance. The thermal and sound insulation is optimal and the equipment is highly energy efficient. And this is without taking the well-thought orientation into consideration, that allows the living room to be bathed in natural light at any time of the year. The sun heats the home more than 300 days a year, saving you valuable money. In addition, the insurance contracted by the developer covers you against the possible defects of construction, guaranteeing you ten years of peace of mind. Don't forget that the legal fees for a purchase of a new build vary between approximately 2 and 3 percent of the sale price! In this context, the value of your property can only increase in the long term, which will allow you to consider a capital gain in the event of resale.
The French Riviera offers superb opportunities in terms of rental investment. Many properties are sought out by students and professionals, so furnished rentals are a very dynamic feature of the rental market in this region. This is the case for service residences that benefit from the Censi-Bouvard tax exemption system. You can reduce your taxes by 11 percent of the amount of the purchase if you rent your property for 9 years, as well as reducing the real estate VAT by 20 percent. The Pinel Law also encourages investment in new properties. You can then benefit from a tax deduction of 12, 18 or 21 percent of the price of the property depending on whether you put your rental property on lease for 6, 9 or 12 years. This is an ingenious way to prepare for your retirement and safeguard your family's inheritance!
The south of France still fascinates real estate investors. In 2017, 12 percent of new homes in France were sold on the French Riviera, which is equivalent to 14,440 units. At the same time, 44,100 building permits were granted, an increase of 12.2 percent in one year. In fact, 35,900 properties began to be built, 13.6 percent more than the previous year. Known for its prestige, the French Riviera commands high prices, the prize going to Cannes with an average price of 10,000 euros per square meter. Overall, the average price per square meter of a new luxury building in the region is between 3,500 euros inland and 8,000 euros for those with sea views.
